Thursday, January 17, 2008
The market paused somewhat today as traders reevaluated positions and considered the inflation reports from early in the session. Risk is still high in the USD/JPY, AUD/USD, NZD/USD for a move back against the breakout this week and it could be triggered by a possible early intervention by the Fed. I see the opportunities out there being triggered by a move back down by the USD in general. The GBP/USD is looking better and a bounce off support on the EUR/USD could take us right to 1.5000 in the near term.
In today's pairs video I will look at the partial retracement today on those pairs we were concerned about and evaluate possible targets for the other majors.
To see the video, click here: http://www.pfxglobal.com/index.php?o...896&Itemid=149
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